• Dr. Vijeta Banwari

This paper examines the opportunities and challenges that come with the fast growth of Gig economy. Gig Economy is a way of working that is based on people having temporary jobs or doing separate pieces of work, each paid separately, rather than working for an employer. According to global freelancing and crowdsourcing marketplace Freelancer.com, India is one of the top countries in the world where gig economy culture is on the rise. India is witnessing top trends in Gig economy: Retired population is engaging in Gigs, Blockchain-based payment system, the emergence of Blockchain-based marketplaces, technology takes over hiring and established companies are hiring more contractual employees. Gig economy has various benefits for the economy, cushioning unemployment, improving labour force participation, stimulating demand, and raising productivity. Consumers and organizations could benefit from the greater availability of services and improved matching that better fulfils their needs. It also comes with a lot of challenges: It bids down wages. It makes working lives episodic. It displaces risk on to ordinary people, a source of growing stress and mental ill health. Gig work does not come with pensions, sick pay, holiday entitlement and parental leave. Mortgage companies are wary about lending to people with insecure work. The paper also discusses the recommendations for government, individuals and companies to help them leverage the benefits of Gig economy.

Gig Economy, Fourth industrial revolution, independent work, Blockchain

"Gig Economy: Challenges and Opportunities in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 11, page no.413-420, November-2018, Available :http://www.jetir.org/papers/JETIR1811661.pdf

"Gig Economy: Challenges and Opportunities in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 11, page no. pp413-420, November-2018, Available at : http://www.jetir.org/papers/JETIR1811661.pdf